Great Western Exploration : Multiple Sulphide Drill Intersections at Yandal West

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ASX Announcement

21 July 2022

Multiple Sulphide Drill Intersections at Yandal West

• Multiple drill intersections of sulphide mineralisation validates the prospectivity of Yandal West's electromagnetic (EM) targets.
• Sulphides recorded as semi-massive and disseminated, and are prospective for nickel, copper, platinum and gold.
• Drilling interpreted to have intersected a gold mineralised structure at the Harris' Find Prospect.

Great Western Exploration Limited (ASX: GTE) ("Great Western" or "the Company") is pleased to announce that drilling at the Company's Yandal West Project has been completed. Drilling of 12 holes, for 1,610m (Figure 1), tested a number of Xcite electromagnetic (EM) geophysical targets (Great Western Exploration ASX Announcements 62 and 25 October 20211) and interpreted structural lode- gold targets at the Harris Find Prospect.

Huntsman, Wolf Spider, Daddy Long-Legs & Redback EM Targets

GTE 80% (E53/1612)

The Yandal West Project is located within the metal rich Yandal Greenstone Belt, approximately 55km north of the Bronzewing Gold Mine and 60km south of the Jundee Gold Mine.

The highly prospective EM targets Huntsman, Wolf Spider, Redback and Daddy Long-Legs were prioritised for drill testing. The intersection of sulphide mineralisation in all holes validates the XCite EM conductor targets. Sulphide mineralisation is often a key component for metal rich geological systems, and the Company interprets the intercepts to have strong potential for accumulations of nickel, copper, gold, and platinum. Semi-massive and disseminated sulphide mineralisation was most pronounced at the Huntsman and Wolf Spider prospects, shown in Figure 1 and Figure 2.

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Figure 1: Location of EM anomalies over interpreted geology, with latest drilled holes displayed in blue.

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Figure 2: Cross-Section of Great Western drilling and associated significant sulphide intersections at the Huntsman Prospect, displaying good correlation with the modelled EM conductor plate.

Figure 3: Cross-section of Great Western drilling and associated sulphide intercept at the Wolf Spider Prospect displaying good correlation with the modelled EM conductor plate.

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The Company looks forwarded to receiving and reporting assay results from these drill intersections.

Harris' Find Prospect

GTE 80% (E53/1612)

The Harris' Find Prospect is a structural gold lode target, marked by a small shaft that was mined in the 1930s. A small number of drill holes tested the target in the mid- 1990s, with the most significant intercept reported as 6m @ 4.91g/t Au (Great Western Exploration ASX Announcement 11 November 20192), and is open at depth. The Company tested for extensions to the mineralisation below this high- grade intercept (Figure 3), with structure intercepted with similar alteration and sulphide mineralisation as previously recorded in the 90s drill-holes.

The Company looks forward to updating shareholders with assay results from the Harris' Find Prospect.

Figure 4: Harris' Find longitudinal section, with previously reported drill intercepts displayed, coloured by gold grams x drilled metres (GTE ASX Announcement 11 November 20192). The latest Great Western Exploration intercepts are coloured blue with results pending.

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Table 1: Attributes of the latest drill-holes drilled at Yandal West

HoleID	Prospect	Easting	Northing	RL	Dip	Azimuth	Depth
GDA94_51S	GDA94_51S
GYWRC001	Huntsman	281030	7020034	525	-60	260	130
GYWRC002	Huntsman	281089	7020044	526	-60	260	170
GYWRC003	Huntsman	281059	7020080	527	-60	260	170
GYWRC004	Huntsman	281117	7020009	525	-55	260	180
GYWRC005	Wolf Spider	281180	7020576	533	-60	255	50
GYWRC006	Wolf Spider	281222	7020640	534	-60	255	180
GYWRC007	Redback	281020	7020964	545	-60	255	80
GYWRC008	Daddy Long Legs	282339	7021860	554	-60	255	100
GYWRC009	Harris' Find	280877	7020360	531	-80	240	90
GYWRC010	Harris' Find	280899	7020370	533	-65	240	82
GYWRC011	Harris' Find	280945	7020376	540	-65	240	198
GYWRC012	Harris' Find	281000	7020156	530	-60	255	180

About Great Western Exploration

Great Western Exploration (GTE.ASX) is a copper, gold, nickel, and platinum group element explorer with a world class, large land position in prolific regions of Western Australia. Great Western's tenements have been underexplored or virtually unexplored (Figure 2).

Numerous field work programmes across multiple projects are currently underway and are well-funded with a tight capital structure, providing leverage upon exploration success.